Pine Labs raises $600 mn from Fidelity, BlackRock; valued at $3 bn

Payments platform Pine Labs has announced that it has closed its ongoing funding round at $600 million led by Fidelity Management & Research Co and BlackRock. The startup is now valued at $3 billion, its CEO Amrish Rau said. Pine Labs is also targeting an initial public offering within 18 months which is likely to take place in the US.